Press Room
Newquay House Prices Ride The Waves
Despite reports of a nationwide market slowdown, research by email4property.co.uk, the largest online network of local estate agent, shows continued strength in the Newquay property market, with its monthly house price index revealing a strong price increase across all property types.
Research shows that the average property price in Newquay was £228,812 at the end of 2007, increasing by 13.7% from 2006 (£201,250). Sales so far in 2008 have recorded an average price of £246,332, up 7.7% on last year.
Newquay’s position as the Cornish surfing capital continues to drive prices upwards and the buy to let market here is strong, with investors taking advantage of the high rental demand, buying a range of properties to cater for the large number of recreational visitors and seasonal workers.
Over the past six years, terraced homes have proved the most popular property type, reports email4property.co.uk, making up 29% of all home sales in 2007.
David Bexon, Managing Director of email4property, comments: “The property market in Newquay remains extremely robust with all property types recording strong positive price growth in 2007, led by detached and semi-detached properties, where demand continues to outstrip supply."
“Our figures show terraced homes and apartments have continued to dominate the property mix in Newquay, together accounting for 60% of all sales in 2007. Our latest data shows that prices have continued to increase in 2008, with average prices rising 14% since 2007, from £228,812 to £246,332."
“Newquay remains very popular with a range of buyers and offers a great selection of properties. Visitors have grasped the low cost flights now available from London’s Stanstead airport as a quick way to arrive at one of the UK’s premier resorts.”
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Article date: 6/13/2008 12:00:00 AM